What's Hot

    Alternative Media Attacks Bitcoin: A Response To “Bitcoin Cannot Free Palestine”

    July 27, 2022

    Bullish Sentiment Spills Over To Institutional Investors As Ethereum Inflows Balloons

    July 27, 2022

    Wanchain AMA with Marketing Director Temujin Louie

    July 27, 2022
    Facebook Twitter Instagram
    • Altcoins
    • Bitcoin
    • Ethereum
    • Blockchain
    Facebook Twitter Instagram
    Guide to Crypto and Altcoins
    • Bitcoin

      Alternative Media Attacks Bitcoin: A Response To “Bitcoin Cannot Free Palestine”

      July 27, 2022

      Crypto Traders Split on Upcoming Fed Rate Hike’s Impact on Bitcoin

      July 27, 2022

      Bitcoin holds $21k – crypto rally still on

      July 27, 2022

      TA: Bitcoin Price Consolidates, Why Recovery Could Be Capped

      July 27, 2022

      Bitcoin Is Global Money For An Interconnected World

      July 27, 2022
    • Altcoins

      Wanchain AMA with Marketing Director Temujin Louie

      July 27, 2022

      ‘Game yet to begin’ for security token offerings, INX exec says

      July 27, 2022

      CryptoDep’s Top 5 Meme Tokens by Social Activity

      July 27, 2022

      Large Uniswap Holders Awaken, Accumulate Nearly $75,000,000 in UNI in About Two Weeks: Analytics Firm Santiment

      July 27, 2022

      Shiba Inu (SHIB) Burn Rate Continues 200% Rally Following Crypto Card Release

      July 26, 2022
    • Ethereum

      Bullish Sentiment Spills Over To Institutional Investors As Ethereum Inflows Balloons

      July 27, 2022

      Technical Analysis – Ethereum Price (ETH/USD) – 27/07/22

      July 27, 2022

      Massive Ethereum Supply Shock Incoming As ETH Prepares To Outpace Bitcoin: Raoul Pal

      July 26, 2022

      “Crypto King” Barry Silbert Hyping Up Ethereum’s Merge Upgrade

      July 26, 2022

      Institutional ETH sentiment turns positive after 11 weeks of outflows

      July 26, 2022
    • DeFi

      DeFi.org Announces Four Leading Participants in Its Polygon-Led Accelerator Program

      July 26, 2022

      DeFi Tokens Lido, Curve Follow Ethereum into Bear Territory

      July 26, 2022

      DeFi Total Value Locked (TVL) Soars By More Than $10 Billion

      July 26, 2022

      This little-known DeFi crypto token has rallied over 800% in a month

      July 26, 2022

      Solana said to be ‘more decentralized than people think,’ but there’s more

      July 26, 2022
    • NFT

      NFT potential vast and creative possibility endless, says YellowHeart CEO

      July 27, 2022

      A Complete Guide To Altcoins

      July 27, 2022

      Erick Calderon: NFT Platform Art Blocks’ Rapid Growth ‘Felt Unreasonable’

      July 26, 2022

      NFT Market Projected to Reach $200 Billion in 2030

      July 26, 2022

      The Sandbox Creating a Virtual Home & NFT Art for Alec Monopoly

      July 26, 2022
    • Mining

      The Top 5 Best Cryptocurrencies for Mining in 2022

      July 26, 2022

      Bitmain Partner Antalpha Unveils a Host of Needed Lending Products for Miners

      July 26, 2022

      AntPool Supports Ethereum Classic Ecosystem With $10M Investment

      July 26, 2022

      Texas a Bitcoin ‘hot spot’ even as heat waves affect crypto miners

      July 26, 2022

      Bitcoin mining to harness onsite natural gas emissions: Ark Invest

      July 26, 2022
    • Metaverse

      The Sandbox primary LAND sales volume fell 80% in Q2

      July 26, 2022

      HTC partners with Japan’s pixiv to launch 3D anime avatars in the metaverse

      July 26, 2022

      Wharton School launches metaverse-focused business course

      July 26, 2022

      Aftermath Islands Metaverse Limited Secures $25M Commitment from LDA Capital

      July 26, 2022

      Patents and Big Tech: Which Companies Will Rule the Metaverse?

      July 26, 2022
    • More…
      • Blockchain
      • Analytics
      • Exchange
      • Legal
      • Finance
      • Security
      • Other
    Guide to Crypto and Altcoins
    Home » Chainlink price analysis: Cryptocurrency value depreciates to $6.35 after bearish spin
    Analytics

    Chainlink price analysis: Cryptocurrency value depreciates to $6.35 after bearish spin

    🌐  www.cryptopolitan.comJuly 27, 2022No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Recent Chainlink price analysis has been bearish following a spin that saw the cryptocurrency’s value depreciate to $6.35. The LINK/USD pair had been trading in a range between $6.50 and $6.70 prior to the decline. The LINK/USD pair today started the day with a slight decline that took the price to $6.38. The cryptocurrency then witnessed a sharp decline that saw its value fall to $6.35.

    The market is currently bearish and a further decline cannot be ruled out. That said, the LINK/USD pair should find support at the $6.11 level. A move below this level could see the pair retest the $6.00 level. On the other hand, a move above the $6.35 level could see the pair target the $6.50 level.

    The digital asset has been one of the best performers in the cryptocurrency market over the past month. The LINK/USD pair had surged from a low of $4.62 on April 25 to highs of $8.19 on May 19. Since then, the pair has been in a consolidation phase as bulls and bears battle for control of the market. The 24-hour trading volume for the LINK/USD pair is $289 million and the market capitalization for the digital asset is $2.92 billion.

    LINK/USD 1-day price chart: Bearish turn disrupts bullish rally as price draws back to $6.35

    The daily Chainlink price analysis indicates that the price decline appears to have been caused by a bearish turn in the market. The LINK/USD pair had broken out of a descending triangle pattern at the time of writing as bulls took control of the market. The breakout saw the pair surge to highs of $6.35 and a low of $6.11 was formed.

    The daily RSI for the LINK/USD pair is currently at 49.20 and it appears to be losing momentum. The MACD for the pair is also bearish as the signal line crosses below the histogram. The 50-day moving average (MA) is currently at $6.37 and it is flat. The 200-day MA is currently at $5.68 and it appears to be trending upwards.

    LINK/USD 4-hour price analysis: Bulls take control as price moves back above $6.37

    The 4-hour Chainlink price analysis shows that the bulls have taken control of the market as the price has moved back above the $6.35 level to the 6.37 level. The bulls emerged after the LINK/USD pair found support at the $6.11 level. The market is currently in a consolidation phase as bulls and bears battle for control of the market.

    The bulls have seen taking control of the market as the 4-hour Relative Strength Index (RSI) for the LINK/USD pair is currently at 52.80 and it appears to be gaining momentum. The MACD for the pair is also bullish as the signal line crosses above the histogram. The 50-day MA and the 200-day MA is currently at $5.68 and 5.41 respectively it appears to be trending upwards.

    Chainlink price analysis conclusion

    Overall, Chainlink price analysis appears to be bearish in the 24-hours timeframe as the price has depreciated to $6.35 after forming a high at $6.37. In the 4-hour timeframe, the bulls have taken control of the market as the price trades back above the $6.37 level. The technical indicators in the 24-hours timeframe are bearish while in the 4-hour timeframe they are bullish. Thus, a short-term bullish trend can be expected in the LINK/USD pair.

    Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

    Source: www.cryptopolitan.com
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    bitwiza
    • Website

    Related Posts

    CHZ Technical Analysis: Can Buyers Uphold Prices Above $0.10?

    July 27, 2022

    Can Cardano hit $1 by the end of August? Here’s what the crypto community says

    July 27, 2022

    Most Crypto Investors Holding Strong Despite Sell-Off: Survey

    July 27, 2022

    Tron (TRX) Price Analysis: Fresh Increase If It Clears $0.066

    July 27, 2022
    Add A Comment

    Comments are closed.

    Top Posts

    Open Interest In Ethereum Futures Has Hit a Record High

    February 13, 2022

    Number of SHIB holders surges more than 30% in a month

    November 12, 2021

    Estimating This Cycle’s Bitcoin Price Top

    November 12, 2021

    Subscribe to Updates

    Get the latest crypto news from bitwiza.com about altcoins, cryptocurrencies and blockchain.

    Sponsored
    UNITED NEKO ALLIANCE

    We are the leader in cryptocurrency news and a top knowledgebase for crypto assets, DeFi and blockchain.

    We're a community. Connect with us:

    Facebook Twitter Instagram Pinterest YouTube
    Top Insights

    Open Interest In Ethereum Futures Has Hit a Record High

    February 13, 2022

    Number of SHIB holders surges more than 30% in a month

    November 12, 2021

    Estimating This Cycle’s Bitcoin Price Top

    November 12, 2021
    Get Informed

    Subscribe to Updates

    Get the latest creative news from Bitwiza about altcoins, cryptocurrencies and blockchain.

    Facebook Twitter Instagram Pinterest
    • Altcoins
    • Blockchain
    • Bitcoin
    • DeFi
    • Ethereum
    • Crypto Mining
    • NFT
    • Security
    © 2023 Bitwiza. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.